Today’s workforce spans many generations, and employers need to be building benefits packages that cater to all of them. The job market is tight, and employee benefits are a great way to attract and retain top talent. Each generation has different wants and needs, however, and packages need to be flexible to accommodate these variances.

Baby boomers are nearing retirement, and typically are more concerned with their healthcare benefits as they have more frequent medical appointments. Millennials and the younger generations are less likely to be concerned with primary care at this point in their lives. Health Savings Accounts can be attractive as they allow younger employees to benefit from their good health now and save up for a rainy day. Young employees are also graduating with huge amounts of student loan debt, so benefits managers can design packages that will alleviate some of the debt burden.

More companies are utilizing their benefits packages to drive employee engagement. A thoughtful array of perks shows loyalty to employees and in turn drives loyalty back to employers.

Time away from work is also increasingly important to all generations of the workforce. More paid time off, work-from-home flexibility, and paid family leave are great ways to increase employee satisfaction and loyalty. These tools which allow employees more time away from work bolsters engagement when they are actually there and increases overall productivity.

Student loan repayment is another benefit that can improve employee engagement. Employees burdened by debt are less productive at work and spend time dealing with personal finances. Student loan debt is also a multigenerational issue as more and more parents are taking out loans to fund their children’s or even grandchildren’s education. Therefore, repayments benefits will appeal to all generations of the workforce.

Employers must always consider finances when determining their benefits offerings. But, small changes to benefits packages can be made in an affordable way. For example, companies like Goodly make it easy and affordable for companies to provide student loan repayment benefits. More personalized benefits packages also please employees, which tends to drive a high ROI.